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Can you summarize Financial institutions - Chapters 706-722 > Administration and Enforcement of Banking Laws Generally?
Financial institutions - Chapters 706-722 > Administration and Enforcement of Banking Laws Generally
Short Summary
The provided legal document contains definitions and terms used in the Bank Act. It applies to financial institutions, banks, and customers. The document defines various terms such as ‘access area’, ‘access device’, ‘acquisition transaction’, ‘automated teller machine (ATM)’, ‘banking business’, ‘banking day’, ‘branch’, and many more. It also clarifies the exemptions from the definition of ‘banking business’, which include depositing money in escrow or with an agent, credit unions, accepting deposits in connection with purchasing or leasing property or services. The document does not mention any specific penalties for non-compliance or violation. Overall, it provides a comprehensive understanding of the terms and definitions used in the Bank Act.
Whom does it apply to?
Financial institutions, banks, and customers
What does it govern?
Administration and Enforcement of Banking Laws Generally
What are exemptions?
Exemptions from the definition of 'banking business' include depositing money in escrow or with an agent, credit unions, accepting deposits in connection with purchasing or leasing property or services
What are the Penalties?
No specific penalties mentioned
Jurisdiction
Oregon